The Development Bank of Nigeria (DBN) has been confirmed by the Sterling One Foundation as a major partner for the much awaited third edition of the Africa Social Impact Summit, which is scheduled to take place at the Eko Convention Centre in Lagos on July 25–26, 2024.
Along with prominent private-sector companies, international development organisations, public-sector organisations, and diplomatic missions, this alliance adds a substantial new partner to the Summit’s remarkable roster of partners. With these joint efforts, the Summit’s goal of encouraging significant investments that propel sustainable development throughout the African continent is intended to be strengthened.
The DBNigeria, which was established in 2014, is an important wholesale finance organisation that helps Micro, Small, and Medium-Sized Enterprises (MSMEs) all throughout Nigeria with their financial needs. DBN plays a crucial role in promoting the expansion and stability of MSMEs by giving qualifying financial intermediaries access to necessary funding and partial credit guarantees.
Entering its sixth year of existence, DBN has a stellar history of lending money to millions of MSMEs. To help these businesses even more, the bank has launched a number of initiatives, such as the DBN Capacity Building Initiative, the Eco Innovation Challenge, and the Entrepreneurship World Cup. DBN has given over 494,819 MSMEs a total of N787.47 billion by the end of 2023; 356,451 of these businesses were run by women, as seen through the banking and finance news.
Adding, Dr. Tony Okpanachi, Managing Director and CEO of DBN, emphasized the bank’s long-standing involvement with the Africa Social Impact Summit, noting that it has been a participant since the event’s inception. He recognizes the immense value in the Summit’s efforts to scale sustainable solutions through increased impact investments.
He stated, “We are constantly looking to reach more enterprises, building impactful solutions that address Nigeria’s challenges and this Summit presents a good opportunity to engage them and offer them ways to scale and grow.”
Continuing, Mrs. Olapeju Ibekwe, CEO of Sterling One Foundation, expressed her enthusiasm for the partnership, highlighting the invaluable insights DBN brings from its extensive experience in Nigeria’s MSME sector. She also underscored the potential benefits for Summit attendees seeking credit for their impact-driven projects, noting that this collaboration offers a unique opportunity to learn from DBN’s successful strategies.
However, the Africa Social Impact Summit, now in its third year, remains an essential forum for those committed to significantly advancing the social and economic advancement of Africa. With a common commitment to promoting sustainable progress, a wide range of individuals are expected to attend the forthcoming Summit.
However, it is expedient to know that registration for in-person attendance at the Summit is currently open, and interested parties can sign up at http://www.theimpactsummit.org. The event promises to be an enriching experience, providing valuable networking opportunities, insightful discussions, and actionable strategies for driving social impact across the continent.
